acquisitions and divestitures
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Centennial said in its 10-Q report for Q1 that the economic downturn increased the likelihood that the transaction would fail to close by its original timeline. -
The sale of the Appalachia position is in line with Shell’s strategy to focus on its shales strategy.
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The move to combine forces comes amid the fastest contraction in drilling activity the US shale sector has ever seen while Gyrodata will retain its international business.
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The deal is part of the company’s divestment program targeting proceeds of $5 to 10 billion between 2018 and 2020.
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The provider of subscription-based analytics services for the North American oil and gas sector continues its streak of purchasing data-focused firms.
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The deal is part of BP’s plan to divest $10 billion in the North Sea so that it can focus on developing core growth areas and construct more cost-effective subsea tiebacks in the region.
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The company will shell out more than $800 million to acquire interests in the Andrew and Shearwater areas, as well as the Tolmount field, offshore Scotland.
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The latest move to consolidate the US shale sector will add 1,500 drilling locations to the buyer's portfolio. It also reflects that all-stock or mostly-stock deals are now the sector’s preferred acquisition vehicle.
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The deal boosts Talos' 2019 production by 35%, helping the independent E&P company become one of the top 10 producers in the Gulf of Mexico.
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Occidental Petroleum has closed on deals totaling $1.7 billion as part of its divestment program following its $38-billion takeover of Anadarko Petroleum.
